Emerita Resources Provides Corporate Update
EMERITA RESOURCES PROVIDES CORPORATE UPDATE
TORONTO, January 12, 2026-- Emerita Resources Corp. (TSX -V: EMO; OTCQB: EMOTF; FSE:
LLJA) (the “Company” or “Emerita”) provides a corporate update highlighting progress on strategic
priorities for its exploration and development plans in Spain. Management expects 2026 will be a
pivotal year in the evolution and growth of Emerita. The Company maintains a strong balance sheet
and is well -capitalized to advance its planned programs and achieve key milestones , having
completed a $26 million equity capital financing and securing a US$50 million. These programs
represent a series of catalysts that advance the C ompany’s objective of delivering value to
shareholders. Management’s main focus will be dedicated to Emerita’s wholly owned projects with
emphasis on advancing the Iberian Belt West (”IBW” or the “Project” ) project to a development
decisions and mining license.
The Company is in the process of completing engineering studies for potential development of a
high-grade mining operation at its cornerstone asset, the IBW project. An updated NI 43-101 Mineral
Resource Estimate (MRE) is expected to be published in the coming months that will support the
ongoing Prefeasibility Study (PFS) that is being completed by SLR (see the Company’s press release
dated December 3, 2025). Metallurgical testing has demonstrated gold recoveries of over 80% and
indicates favorable processing characteristics to produce copper, zinc and lead concentrates .
Ongoing metallurgical optimization tests will be completed in the coming weeks to provide the inputs
for the plant design. The PFS is scheduled for completion by the end of Q2 2026.
Permitting related to the IBW project is advancing and the Declaration of Strategic Interest (DSI)
panel of the government is working effectively with the Company on providing the required
deliverables. Based on discussions with the regulatory authorities, the Company expects the public
comment period to begin in Q1 2026 and following this comment period obtain the Unified
Environmental Authorization (“AAU”). The commencement of the p ublic comment period is a
milestone that signifies the Environmental Department and Mining Department of Huelva Province
have endorsed the Project development parameters. The AAU analyzes the potential environmental
effects associated with the proposed Project and outlines solutions and alternatives for anticipated
impacts of the proposed operations, a critical step in securing mining permits.
The Company completed an airborne survey over the IBW regional area in December (see the
Company’s news release dated December 1, 2025) with results currently under review and expected
to be finalized this month. These results will guide the 2026 exploration of the highly prospective
San Antonio project area, which hosts several copper -rich past producers that have not been
systematically explored using modern techniques . According to Joaquin Merino, P .Geo, President
of Emerita, “ Discoveries in this area would be highly strategic for the long-term development of a
multi-mine camp feeding a centralized processing infrastructure at IBW.”
The Company intends to drill the Nuevo Tintillo project located in Sevilla province to the west of IBW
in 2026. Nuevo Tintillo has excellent gold and silver grades in surface sampling of up to 3.37 g/t
gold and 165 g/t silver as part of a mineralized alteration zone that extends on surface for up to 400
meters (see the Company’s news release dated August 20, 2024).
The legal dispute related to the awarding of the Aznalcόllar Project Public Tender is expected to be
resolved in the Andalusia Administrative Court in the coming months. Evidence related to potential
administrative improprieties in the awarding of the tender surfaced during the police investigation for
the criminal trial. In December 2025, the Company filed a petition requesting that the Administrative
Court issue its resolution and await that outcome.
The Company has created a Foundation, La Fundación Emerita Compromiso Sostenible (“Emerita
Foundation” or “the Foundation”), that will be an important engine for Emerita’s ongoing efforts in
strengthening community engagement and active participation in potential economic and societal
opportunities in IBW and future projects.
David Gower, P.Geo., CEO of Emerita states, “This will be a breakthrough year for Emerita as we
expect to transition from an exploration company to a mine development company with an exciting
pipeline of exploration projects for future growth. The work with the regulatory authorities in Huelva
province and the DSI panel in Andalusia is proceeding a t pace with all parties committed to the
success of the Project. The Emerita Foundation has been established as an important vehicle for
community engagement and participation in this important project. IBW is a high-grade polymetallic
project that is enriched in gold and silver, providing an exceptional potential development opportunity.
El Cura continues to add copper -gold rich mineralization close to planned infrastructure. The
exploration portfolio will provide numerous opportunities for new discoveries. Our team is motivated
and excited to deliver on these catalysts.”
Qualified Person
Scientific and technical information in this news release has been reviewed and approved by Joaquin
Merino, P.Geo., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards
of Disclosure for Mineral Projects (“NI 43-101”) and President of the Company. Mr. Merino is not
considered to be independent of the Company.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and development of
mineral properties in Europe, with a primary focus on exploring in Spain. The Company’s corporate
office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
For further information, contact:
Ian Parkinson
+1 647 910-2500 (Toronto)
www.emeritaresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding
the Project, the prospectivity and mineralization of the Project and the Company’s other projects; the
economic viability of the Project, the timing and results of resource estimates, PFS and other studies,
the Company’s ability to obtain the requisite licenses and permits ; the advancement of the IBW
Project; the resolution of ongoing administrative proceedings and the Company’s ability to obtain the
rights to the Aznalcollar project; short and medium term milestones; the results of metallurgical
studies, the Company’s proposed acquisition of the Nueva Celti project, the Company’s exploration
and development plans and the Company’s future plans. Generally, forward-looking information can
be identified by the use of forward- looking terminology such as “plans ”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes ”, or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward- looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of Emerita, as the
case may be, to be materially different from those ex pressed or implied by such forward-looking
information. Although Emerita has attempted t o identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Emerita does not un dertake to update any forward-looking
information, except in accordance with applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) nor any other regulatory authority accepts responsibility for the adequacy or accuracy of
this release.